The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Bought by Stifel Financial Corp

Stifel Financial Corp grew its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 41.4% during the 3rd quarter, Holdings Channel reports. The firm owned 17,220 shares of the company’s stock after purchasing an additional 5,041 shares during the quarter. Stifel Financial Corp’s holdings in Vita Coco were worth $487,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wasatch Advisors LP lifted its stake in Vita Coco by 299.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after buying an additional 1,799,168 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Vita Coco by 7.2% during the third quarter. Captrust Financial Advisors now owns 21,291 shares of the company’s stock valued at $603,000 after acquiring an additional 1,433 shares during the last quarter. Woodson Capital Management LP purchased a new position in shares of Vita Coco in the third quarter valued at approximately $19,224,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock worth $199,000 after acquiring an additional 1,434 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of Vita Coco in the third quarter worth approximately $366,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Bank of America increased their price objective on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Craig Hallum increased their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.14.

Insider Activity

In other Vita Coco news, COO Jonathan Burth sold 905 shares of Vita Coco stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total value of $27,186.20. Following the sale, the chief operating officer now owns 123,300 shares in the company, valued at $3,703,932. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $35.85, for a total value of $179,250.00. Following the completion of the transaction, the chief executive officer now directly owns 452,452 shares in the company, valued at approximately $16,220,404.20. This trade represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 150,173 shares of company stock valued at $5,392,026 in the last 90 days. Company insiders own 34.20% of the company’s stock.

Vita Coco Stock Up 1.0 %

Shares of NASDAQ:COCO opened at $36.34 on Friday. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $37.88. The stock has a market cap of $2.06 billion, a P/E ratio of 36.71, a PEG ratio of 2.42 and a beta of 0.31. The business has a fifty day moving average of $34.32 and a two-hundred day moving average of $29.67.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Vita Coco’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.